Parent to Parent: Business Kids

WSVN -- Michael Perez: "So the business I created was Tail Times, which started out as a doggy daycare service."

Sixteen-year-old Michael Perez has a mind for business. The junior at John A. Ferguson Senior High school in Kendall started as the CEO of his own doggy day care business and is now onto his next big idea, tailtimes.com, an on-line gourmet dog treat website.

Michael Perez: "With that idea, I was already standing out. It made my thing unique. People were like, 'This is the doggy-daycare guy'."

Michael was named 2007 young entrepreneur of the year, awarded by NFTE, a program that teaches students how to create, launch and market their own business.

Diahann Holder: "It lets students find out who they are, it gives them the power to see what they can do, and it amazes them to find out that they can actually create a business."

Seven's Parenting Expert Dr. Valerie Goode says learning to run their own business is a good teaching tool for children.

Dr. Valerie Goode: "Children love to work. They don't mind the work, and they like the money, but the money is really secondary to the work."

Dr. Valerie says children should start a business that mirrors their interests. Parents, help them set realistic goals. How much time can they commit? How much money can they really make? And, parents, start small. Make sure it's something your child can handle on their own, and encourage them to think outside the box.

Dr. Valerie Goode: "Not just think, 'Now I have a baby-sitting job once a week, now I have money, now I can go spend it.' No, how can you grow your baby-sitting service, what else can you do?"

Dr. Valerie says teaching kids entrepreneurial skills at an early age can help them become more independent as they grow. Michael is always coming up with creative ways to sell his product and says other students should give it a try.

Michael Perez: "It gives them another way to make money that's not necessarily going out to find a job. They're creating their own job."

Lynn Martinez: "Parents, if you're interested NFTE is now offering courses in schools throughout Miami-Dade County and plans to expand into Broward and Palm Beach counties soon.

FOR MORE INFORMATION:

The National Foundation for Teaching Entrepreneurship
www.nfte.com

Tail Times
www.tailtimes.com